ECONOMY

Fitch warning on Greek sovereign and bank financing

The likely agreement to extend Greece’s financing agreement for up to four months significantly reduces the near-term risk of a breakdown in relations between the Greek government and the country’s official creditors, Fitch Ratings said on Wednesday: “This is positive for Greece’s sovereign credit profile, but it does not fully address uncertainties around sovereign and bank financing or necessarily ensure the success of follow-up negotiations,” it warned.

[Reuters]